As if this market wasn’t complicated enough, with the various cross currents battling it out, now we’re laden with an entire industry spiking on account of a major company within the industry REDUCING estimates by 30% or some shit. I’ve been a little busy today, affected by LOLitis and now forced to attend prior engagements, but I plan on sitting down and looking at the steel & iron names later today. Bottom line is, if a company says we’re going to suck more than analysts think, and then spikes, then speculators have beaten the name to a pulp in preparation for something horrific. These names should definitely provide healthy risk/reward scenarios, should a name operate efficiently and/or the horrific speculation not come to fruition.
I’m outta here, again. Talk to ya later.
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